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| Punjab National Bank |
Highlights :
- Punjab National Bank reports ₹ 1,203.26 crore fraud by Sintex Industries Limited
- The fraud reporting pertains to the large corporate branch at Ahmedabad zonal office
- Bank has already made provisions amounting to ₹ 215.21 crore
Public Sector Punjab National Bank (PNB) on Wednesday declared its ₹ 1,203.26 crore exposure to Sintex Industries Limited as fraud.
Pursuant to the applicable provisions of SEBI's Listing Obligations and Disclosure Requirements (LODR) and the bank policy, "we inform reporting of borrowal fraud of ₹1,203.26 crore in NPA Account of Sintex Industries Limited".
The fraud reporting pertains to the large corporate branch at Ahmedabad zonal office.
Bank has already made provisions amounting to ₹ 215.21 crore.
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